F inancial D igest F eaturing I nsurance /T itle

M id A tlantic Real Estate Journal — October 16 - 29, 2020 — 13A JLL represents CSC to secure $33.3M in financing


$126MM in deals closed amid pandemic M&T RCC announces large recent closings volume


ket volatility and uncertain- ty created by the COVID-19 pandemic. M&T RCC reacted swiftly to help many of its bor- rowers reduce their interest rates, generating substantial savings at a time when cash flow is more important than ever. In addition, M&T RCC also successfully navigated the COVID-19 environment to complete multiple in-process 232/223(f) transactions. The new HUD financings secured long-term, non-recourse, fixed rates below 2.75%. In one case, M&T RCC worked closing with HUD to mitigate a COVID-19 outbreak that occurred just after a Firm Commitment was issued. M&T RCC entered the third quarter with a robust pipeline of over $225MM spread across continue to manage the affairs of the office as well as assist in corporate business matters. Blatchford’s record of 19 years of hard work, caring and leader- ship has contributed greatly to our success. And I am also an- nouncing that Veronica Tobia has been promoted to closing department manager. Her hard work, attention to detail and overall team leadership provided a sustained quality of product. Her management skills shall allow Counsellors Title to continue its forward- moving business trajectory,” said Aponte. Pawlowski joined Counsel- lors Title Agency in August. Pawlowski is a veteran title in- surance professional with more than 35 years of experience. He began his title career as a searcher in Middlesex County and quickly learned to examine and produce title insurance commitments. After working for five years in NYC for a large title insurance agency and the Metropolitan Trans- portation Authority, Pawlowski returned to NJ and had been self-employed for many years. During this time, he spent time as the Somerset County searcher for Counsellors Title

multiple HUD offerings: rate modification, 232/223(a)7 and 232/223(f). This strong pipeline speaks to M&T RCC’s com- mitment and expertise to the healthcare and seniors housing sector. As a subsidiary of M&T Bank (one of two banks in the S&P 500 that did not incur a loss during the 2008 financial crisis), M&T RCC continues to actively support its custom- ers with its bridge to HUD program. “In these challenging times, it’s powerful to understand M&T RCC’s tireless dedication to meeting the ever-changing fi - nancial needs of its valued cus- tomers in an ever-vital sector,” added Paula Quigley , Federal Housing Administration Plat- form Manager of M&T Realty Capital Corporation. MAREJ Agency and has also closed many transactions throughout his long career. Pawlowski’s experience covers the entire title insurance process with a focus on logistical problem solving and has been a licensed title insurance producer since 1998. Pawlowski graduated from Rutgers University as a Paul Robeson Scholar with a Bachelor of Arts degree. An Ocean County resident, he en- joys gardening, skim boarding and teaching Kripalu yoga. “We are delighted to have Barry join Counsellors. His ex - pertise will allow us to continue to provide a superior level of service to our expanding client base which covers most of NJ’s 21 counties,” said Aponte. Counsellors Title Agency, Inc., a NJ-based title com- pany, offers title insurance and closing services to sellers and home buyers throughout the state. Through its agency headquarters in Toms River, and its branch offices in Mon - mouth, Morris, Ocean and Union counties, Counsellors provides title services such as title insurance, settlement ser- vices, document preparation for its attorneys, realtors and loan officers. MAREJ

ALTIMORE, MD — M&T Realty Capi- tal Corporat ion’ s

(RCC) Fed- eral Housing Administra- tion/Housing and Urban D e v e l o p - ment’s team a nn o un c e d its recent suc- cess, closing

Paula Quigley

eight loans totaling $126 mil- lion in rate modifications and 232/223 (f) combined, amid the challenging times of the CO- VID-19 pandemic. The proper- ties included seniors housing and healthcare facilities located throughout M&T Bank’s foot- print and nationwide across. The transactions all closed during the height of the mar- TOMSRIVER, NJ — Coun- sellors Title Agency, Inc. to announced the promotions of Sandy Blatchford to VP and Veronica Tobia to closing department manager. In addi- tion, Counsellors Title Agency announced that Barry Paw- lowski has joined the firm as title officer. Pawlowski comes to Counsellors Title Agency with a distinguished profes- sional background in the title insurance industry spanning several decades. “Our company’s vision is to become New Jersey’s most re- spected agency, and that is only possible by adding to our core team exceptional professionals who raise our benchmark and reputation for delivering the most reliable service possible. Barry’s industry expertise matches our company culture of excellence,” said Ralph Aponte, president and founder of Counsellors Title Agency. “In response to the dynamic growth Counsellors Title has experienced, we needed to expand our leadership team through promotions, recogniz- ing the contributions of two individuals. In the case of Sandy Blatchford, she has been promoted to VP. Blatchford will

3701 Chestnut St. in Philadelphia

sent CSC in arranging acqui- sition financing of this iconic building in the heart of Phila- delphia’s University City sub- market,” said Orcutt. “CSC is an expert in the co-living and multi-housing market, and we are excited to have them make their first investment in the Philadelphia market.” In other news, JLL Cap- ital Markets has arranged $147.72 million in financing for a 10-property office portfolio totaling 1.5 million s/f inMorris County. JLL worked on behalf of the borrower, a joint venture between Onyx Equities, Taconic Capital Partners, Axonic Capital and Machine Investment Group , to secure the three-year, floating-rate loan provided by funds man- aged by the Real Estate Group of Ares Management Corpora- tion. Loan proceeds were used to acquire the portfolio from Mack-Cali . The sale transac- tion was represented by JLL’s Capital Markets team. The portfolio consists of nine assets in Parsippany: 1, 3, 5 and 7 Sylvan Way; 4, 6 and 8 Campus Drive; 2 Hilton Court and 11 Dryden Way, and 1 Giralda Farms in Madison. Parsippany andMadison are lo- cated in Morris County, which is part of the Northern NJ office market, which, with more than 152 million square feet, is the 17th largest office market in the United States. The area is home to numerous Fortune 500 companies and boasts a highly educated workforce as well as superior connectivity and proximity to Manhattan, 40 miles east. MAREJ

PHILADELPHIA, PA — JLL Capital Markets an- nounced that it has arranged $33 million in acquisition and renovation financing for the In - ternational House multi-hous- ing property located at 3701 Chestnut St. in Philadelphia. JLL represented the bor- rower, CSC Coliving, LLC (CSC) , to secure the loan with PostRoad Group . International House sits on 1.33 acres, is 14 stories tall and consists of 10,016 s/f of occupied office space. CSC plans to con - vert the existing office space into apartments, with plans to fully renovate and update floors into 400 units. The second-floor office space will continue to be occupied through 2028 and the ground floor will be available to other office/retail tenants. The property is also perfectly posi- tioned for additional 150,000 ground up development in the back portion without disrupt- ing the existing building. Located in University City, one of Philadelphia’s most dy- namic locations and home to the University of Pennsylvania, International House is located near 5 million s/f of office space, providing over 85,000 jobs to the area. For those commut- ing or wanting easy access around the city, the property is conveniently located near immense walking, biking and public transportation options with over 280 restaurants and bars and 136 retailers nearby. The JLL Capital Markets team representing the bor- rower was led by senior manag- ing director Chad Orcutt and analyst Blaine Fleming . “It was a pleasure to repre-

Counsellors Title Agency announces promotions of Blatchford & Tobia, adds Pawlowski to team

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